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The top of this page displays a Dashboard Summary of all of my key performance metrics. Scroll down for a detailed month-by-month account.
may 2018 (+$553)
Another month with no issues and great cash flow.
april 2018 (+$553)
This property is rocking and rolling again. Cash flow looks great.
March 2018 (+$29)
Somehow eked out $29 this month - even after paying the lease-up fee and turnover repairs. Next month looking good!
february 2018 (+$197)
Well that eviction went much smoother than expected. Tenant was out within two weeks, property was turned in a week, and had a new tenant in a week after that. When it was all said and done, after collecting the security deposit from the last tenant, it actually turned out to be a positive month! Indianapolis is a noticeably MUCH hotter rental market than Central PA.
March will be a down month for this property as that's when I will incur the lease-up fee from the property manager (1/2 month's rent) and also the cost of the turnover repairs.
january 2018 (-$226)
Only a partial payment came through, and both my property management and myself have had enough drama with this tenant. The tenant was given a deadline that they could not hit, and is now being evicted. This will cause one or two more months of negative cash flow, for obvious reasons. For this month, I'm negative just because the full rent was not collected. In coming months, I'll have to pay some court costs as well as holding costs. Indy is a much hotter rental market, so hopefully this should fill quickly.
December 2017 update (+$1,066)
Same as it's been all year...tenant got caught up on payments again this month. Despite the volatility, this property continues to be a cash cow overall.
November 2017 Update (-$65)
I continue to love the total return numbers on this property, but hate the lack of consistent cash flow. The tenant is now using a 3rd party "trustee" to pay half of the rent, which adds logistical issues to getting the payment in on time. Half the payment is coming from the tenant, and the other half is coming in from the trustee. In this month, the tenant paid on time but the trustee didn't pay!
October 2017 update (+$1,531)
Tenant got caught up, and hopefully cash flow will begin to get a little more consistent. No repairs.
september 2017 update (+$521)
This tenant is still behind on payments. I have been working with the property manager and have graciously waived late fees if the tenant can stick to a payment plan and get caught up. Next month will be make or break: either they get caught up per the plan, or they get evicted. I sincerely hope they get caught up.
january 2017 - august 2017
Tenant got behind on payments and never got caught up. The payments always came in, but now I was collecting over $100/month in late fees as well. Extra cash flow!
August 2016 - december 2016
Happily cash flowing like crazy! No issues at all.
Acquired this property at end of July 2016 from a turnkey provider in Indianapolis. The property appraised for $111K and I purchased it for only $95K, so I started out with an EXTRA $16K in equity. Plus, the property rented for $100 more than initially promised by the turnkey provider.